Hitachi High-Tech Canada, Inc. ("HTC")
3 February 2011
Tokyo, February 3, 2011 --- Hitachi, Ltd. (NYSE:HIT/TSE:6501) today announced the following executive changes in accordance with a resolution passed by a meeting of the Board of Directors held today. The appointments take effect on April 1, 2011.
1. Executive Changes [Effective April 1, 2011]
(1) Promotion
Koji Tanaka
New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Power Systems Business, Industrial & Social Systems Business, Transportation Systems Business, Urban Planning and Development Systems Business and Defense Systems Business
Current Position: Vice President and Executive Officer, President & CEO of Power Systems Company, Deputy General Manager of Smart City Business Management Division, General Manager of Renewable Energy & Smart Grid Division, Power Systems Company
Junzo Nakajima
New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business and Information Technology, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division
Current Position: Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company
Shigeru Azuhata
New Position: Senior Vice President and Executive Officer, in charge of Environmental Strategies, Hitachi Group Chief Technology Officer, Hitachi Group Chief Environmental Strategy Officer, General Manager of Research & Development Group, Supervisory Office for Business Coordination and Medical Systems Business Division, Deputy General Manager of Water Environment Solutions Division
Current Position: Vice President and Executive Officer, in charge of Environmental Strategies, General Manager of Research & Development Group and Medical Systems Business Division, Deputy General Manager of Supervisory Office for Business Coordination and Water Environment Solutions Division
Shinjiro Iwata
New Position: Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company
Current Position: Vice President and Executive Officer, Chief Executive Officer of Service & Global Business, Information & Telecommunication Systems Company
Makoto Ebata
New Position: Senior Vice President and Executive Officer, in charge of Procurement and Consumer Business
Current Position: Vice President and Executive Officer, in charge of Procurement
Toshiaki Kuzuoka
New Position: Senior Vice President and Executive Officer, in charge of Human Capital, Government & External Relations and Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division
Current Position: Vice President and Executive Officer, in charge of Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division
(2) Reappointment
Toshiaki Higashihara
New Position: Vice President and Executive Officer, in charge of Industrial & Social Systems Business, President and Representative Director of Hitachi Plant Technologies, Ltd.
Current Position: President and Representative Director of Hitachi Plant Technologies, Ltd.
(3) New Executive Officers
Toshio Ikemura
New Position: Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company
Current Position: President and Representative Director of Hitachi Building Systems Co., Ltd.
Tatsuro Ishizuka
New Position: Vice President and Executive Officer, President & CEO of Power Systems Company and Deputy General Manager of Smart City Business Management Division
Current Position: General Manager of Hitachi Works, Power Systems Company
Yoshifumi Kanda
New Position: Vice President and Executive Officer, General Manager of Power Systems Sales Management Division, Power Systems Company
Current Position: General Manager of Chugoku Area Operation
Kazuhiro Kurihara
New Position: Vice President and Executive Officer, General Manager of Chubu Area Operation
Current Position: General Manager of Chubu Area Operation
Yasuo Tanabe
New Position: Vice President and Executive Officer, in charge of Government & External Relations
Current Position: Assistant to the Executive Vice President
Toshikazu Nishino
New Position: Vice President and Executive Officer, in charge of Management Strategy
Current Position: Senior Manager of Strategy & Project Office, Supervisory Office for Management Reforms
Masaharu Hanyu
New Position: Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company
Current Position: President and Representative Director of Hitachi-GE Nuclear Energy, Ltd.
Naoki Mitarai
New Position: Vice President and Executive Officer, General Manager of Human Capital Group
Current Position: General Manager of Corporate Administration Division, Human Capital Group
(4) Changes of Position
Hiroaki Nakanishi
New Position: Representative Executive Officer and President
Current Position: Representative Executive Officer and President, in charge of Power Systems Business, Industrial & Social Infrastructure Systems Business and Automotive Systems Business, General Manager of Supervisory Office for Overseas Plant Construction Business
Takashi Miyoshi
New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Strategy, Finance and Corporate Pension System, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office
Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Reform, Finance, Corporate Pension System, Business Development and Consumer Business, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office
Nobuo Mochida
New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of High Functional Materials & Components, Production Engineering and Automotive Systems Business, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd.
Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Corporate Planning, High Functional Materials & Components and Production Engineering, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd.
Kazuhiro Mori
New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Battery Systems Business, Sales Operations, Hitachi Group Global Business, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division
Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Motor Power Systems, Battery Systems Business, Sales Operations, Hitachi Group Global Business, Procurement, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division
Yoshito Tsunoda
New Position: Senior Vice President and Executive Officer, President & CEO of Battery Systems Company and General Manager of Motor Power Systems Division
Current Position: Senior Vice President and Executive Officer, President & CEO of Battery Systems Company, General Manager of Motor Power Systems Division, President and Representative Director of Hitachi Maxell, Ltd.
2. Resignation [Effective March 31, 2011]
Takashi Kawamura currently Director, Representative Executive Officer and Chairman, General Manager of Supervisory Office for Management Reforms
-- Scheduled to be appointed Chairman of the Board of Hitachi, Ltd., effective on April 1, 2011
Naoya Takahashi, currently Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business, Research & Development and Information Technology, General Manager of Supervisory Office for Business Coordination, Hitachi Group Chief Technology Officer, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division
-- Scheduled to be appointed Representative Director, President and Chief Executive Officer of Hitachi Electronics Services Co., Ltd., effective on April 1, 2011
Takashi Hatchoji, currently Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Urban Planning and Development Systems Business, Defense Systems Business, Corporate Planning, Environmental Strategies, Human Capital, Legal and Corporate Communications, Corporate Brand and Corporate Auditing, General Manager of Supervisory Office for Business Infrastructure, Hitachi Group Chief Environmental Strategy Officer, General Manager of Supervisory Office for Product Environmental Information
-- Scheduled to be appointed Group Chairman for the Americas, effective on April 1, 2011
-- Will be appointed as a Director if he is proposed as a Director candidate and approved at Hitachi’s Ordinary General Meeting of Shareholders in late June
Tadahiko Ishigaki, currently Senior Vice President and Executive Officer,
Chief Executive for the Americas
-- Scheduled to be appointed Associate of Hitachi, Ltd., effective on April 1, 2011
Stephen Gomersall, currently Senior Vice President and Executive Officer,
Chief Executive for Europe
-- Scheduled to be appointed Group Chairman for Europe, effective on April 1, 2011
-- Will be appointed as a Director if he is proposed as a Director candidate and approved at Hitachi’s Ordinary General Meeting of Shareholders in late June
Kenji Ohno, currently Vice President and Executive Officer, General Manager of Human Capital Group
-- Scheduled to be appointed Senior Vice President and Executive Officer of Hitachi Transport System, Ltd., effective on April 1, 2011
Takao Koyama, currently Vice President and Executive Officer, General Manager of Kansai Area Operation and Deputy General Manager of Corporate Marketing Group
-- Scheduled to be appointed Representative Director, Executive Vice President and Executive Officer of Hitachi Solutions, Ltd., effective on April 1, 2011
Gaku Suzuki, currently Vice President and Executive Officer, President & CEO of Industrial & Social Infrastructure Systems Company and General Manager of Intercity Express Programme Division
-- Scheduled to be appointed Senior Technical Executive (tentative name) for Transportation Systems Business of Hitachi, Ltd., effective on April 1, 2011
Hideaki Takahashi, currently Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company
-- Scheduled to be appointed Representative Executive Officer, President and Chief Executive Officer of Hitachi Cable, Ltd., effective on April 1, 2011
Akira Maru, currently Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company
-- Scheduled to be appointed Senior Technical Executive (tentative name) for Power Systems Business of Hitachi, Ltd., effective on April 1, 2011
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
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1. Executive Officers [Effective April 1, 2011]
[(a) Promotion / (b) Reappointment / (c) New]
Hiroaki Nakanishi | Representative Executive Officer and President |
Koji Tanaka | Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Power Systems Business, Industrial & Social Systems Business, Transportation Systems Business, Urban Planning and Development Systems Business and Defense Systems Business |
Junzo Nakajima | Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business and Information Technology, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division |
Takashi Miyoshi | Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Strategy, Finance and Corporate Pension System, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office |
Nobuo Mochida | Representative Executive Officer, Executive Vice President and Executive Officer, in charge of High Functional Materials & Components, Production Engineering and Automotive Systems Business, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd. |
Kazuhiro Mori | Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Battery Systems Business, Sales Operations, Hitachi Group Global Business, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division |
Shigeru Azuhata | Senior Vice President and Executive Officer, in charge of Environmental Strategies, Hitachi Group Chief Technology Officer, Hitachi Group Chief Environmental Strategy Officer, General Manager of Research & Development Group, Supervisory Office for Business Coordination and Medical Systems Business Division, Deputy General Manager of Water Environment Solutions Division |
Shinjiro Iwata | Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company |
Makoto Ebata | Senior Vice President and Executive Officer, in charge of Procurement and Consumer Business |
Toshiaki Kuzuoka | Senior Vice President and Executive Officer, in charge of Human Capital, Government & External Relations and Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division |
Yoshito Tsunoda | Senior Vice President and Executive Officer, President & CEO of Battery Systems Company and General Manager of Motor Power Systems Division |
Toyoaki Nakamura | Representative Executive Officer, Senior Vice President and Executive Officer, in charge of Corporate Pension System, General Manager of Finance and Accounting Group |
Toshio Ikemura | Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company |
Hitoshi Isa | Vice President and Executive Officer, Chief Executive Officer of Thermal Power Systems, Power Systems Company |
Tatsuro Ishizuka | Vice President and Executive Officer, President & CEO of Power Systems Company and Deputy General Manager of Smart City Business Management Division |
Osamu Ohno | Vice President and Executive Officer, General Manager of Corporate Information Technology Group and Chief Innovation Officer of Power Systems Company |
Nobuyuki Ohno | Vice President and Executive Officer, Chief Executive and Chief Innovation Officer for China |
Yoshifumi Kanda | Vice President and Executive Officer, General Manager of Power Systems Sales Management Division, Power Systems Company |
Masahiro Kitano | Vice President and Executive Officer, in charge of Quality Assurance and Production Engineering, General Manager of Environmental Strategy Office, Deputy General Manager of Supervisory Office for Product Environmental Information, General Manager of MONOZUKURI Group and MONOZUKURI Engineering Division |
Ryuichi Kitayama | Vice President and Executive Officer, Deputy General Manager of Corporate Marketing Group, General Manager of Domestic Marketing Division and Customer Satisfaction Promotion Center |
Kazuhiro Kurihara | Vice President and Executive Officer, General Manager of Chubu Area Operation |
Yutaka Saito | Vice President and Executive Officer, President & CEO of Information & Control Systems Company and Deputy General Manager of Smart City Business Management Division |
Kaichiro Sakuma | Vice President and Executive Officer, Chief Executive Officer of Platform Systems Business, Information & Telecommunication Systems Company |
Yasuo Tanabe | Vice President and Executive Officer, in charge of Government & External Relations |
Masahide Tanigaki | Vice President and Executive Officer, in charge of Corporate Export Regulation, General Manager of Corporate Marketing Group and International Marketing Division, Deputy General Manager of Supervisory Office for Sales and Promotion |
Toshikazu Nishino | Vice President and Executive Officer, in charge of Management Strategy |
Masaharu Hanyu | Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company |
Toshiaki Higashihara | Vice President and Executive Officer, in charge of Industrial & Social Systems Business, President and Representative Director of Hitachi Plant Technologies, Ltd. |
Naoki Mitarai | Vice President and Executive Officer, General Manager of Human Capital Group |
Yoshihiko Mogami | Vice President and Executive Officer, Chief Executive Officer of System Solutions Business, Information & Telecommunication Systems Company |
2. Biography of Reappointment and New Executive Officers
Toshio Ikemura
1. Date of Birth | December 2, 1953 |
2. Education | |
March, 1978 | Graduated from the Department of Power and Mechanical Engineering, the Graduate School of Engineering, Kyushu University |
3. Business Experience | |
April, 2007 | President and Representative Director of Hitachi Building Systems Co., Ltd. |
April, 2005 | General Manager of Mito Building Systems Division, Urban Planning & Development Systems Group |
February, 2005 | General Manager of Quality Assurance Division, Urban Planning & Development Systems Group |
April, 2003 | Senior Manager of Elevator Design Department, Mito Building Systems Division, Urban Planning & Development Systems Group |
August, 2000 | Senior Manager of Elevator Quality Assurance Department, Mito Building Systems Division, Building Systems Group |
April, 1978 | Joined Hitachi, Ltd. |
Tatsuro Ishizuka
1. Date of Birth | December 23, 1955 |
2. Education | |
March, 1978 | Graduated from the Faculty of Engineering, Tohoku University |
3. Business Experience | |
October, 2009 | General Manager of Hitachi Works, Power Systems Company |
April, 2009 | General Manager of Hitachi Works, Power Systems Group, Hitachi, Ltd. |
October, 2007 | Senior Vice President of Hitachi America, Ltd. |
July, 2007 | Administrative Officer and Deputy General Manager of Hitachi Works, Hitachi-GE Nuclear Energy, Ltd., Deputy General Manager of Nuclear Systems Division, Power Systems Group, Hitachi, Ltd. |
April, 2005 | Deputy General Manager of Hitachi Works and Nuclear Systems Division, Power Systems Group |
April, 2004 | Deputy General Manager of Power & Industrial Systems Business Administration Division and General Manager of Strategic Planning Division, Power & Industrial Systems Business Administration Division |
September, 2003 | Deputy General Manager of Hitachi Works, Power and Industrial Systems Group |
October, 2002 | General Manager of Quality Control Division, Power and Industrial Systems Division, Power and Industrial Systems Group |
February, 2001 | Senior Manager of Power Electric Machine Design Department, Generator Systems Division, Power and Industrial Systems Division, Power and Industrial Systems Group |
April, 1978 | Joined Hitachi, Ltd. |
Yoshifumi Kanda
1. Date of Birth | March 10, 1952 |
2. Education | |
March, 1974 | Graduated from the Faculty of Engineering, Kobe University |
3. Business Experience | |
December, 2008 | General Manager of Chugoku Area Operation |
April, 2006 | General Manager of Industrial Manufacturing & Services Systems Sales Management Division, Information & Telecommunication Systems Group |
April, 2004 | General Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group |
April, 2002 | Deputy General Manager of Kansai Area Operation |
February, 2001 | Senior Manager of Government & Public Corporation Information System Sales Department, Kansai Area Operation |
August, 1996 | Senior Manager of Electric Power Department, Kansai Area Operation |
April, 1974 | Joined Hitachi, Ltd. |
Kazuhiro Kurihara
1. Date of Birth | December 6, 1952 |
2. Education | |
March, 1976 | Graduated from the Faculty of Economics, the University of Tokyo |
3. Business Experience | |
April, 2010 | General Manager of Chubu Area Operation |
April, 2009 | General Manager of Sales & Marketing Division, Industrial Systems Group |
April, 2007 | General Manager of Transportation Systems Division, Industrial Systems Group |
April, 2006 | General Manager of China Business Development Office, Industrial Systems Group |
February, 2006 | Deputy General Manager of Hitachi (China) Ltd. and General Manager of China Business Development Office, Industrial Systems Group |
April, 2005 | Deputy General Manager of Hitachi (China) Ltd. |
April, 2003 | General Manager and CIO of Strategic Market Planning Division |
August, 2001 | Senior Manager of Planning Department, Corporate Marketing Group |
August, 2000 | Senior Manager of JR Department, Transportation Systems Sales Division, Industrial Systems Sales Operations Group, Power and Industrial Systems Group |
April, 1976 | Joined Hitachi, Ltd. |
Yasuo Tanabe
1. Date of Birth | October 5, 1954 |
2. Education | |
March, 1978 | Graduated from the Faculty of Law, the University of Tokyo |
June, 1985 | Graduated from the Graduate Program, the Department of Political Science, Stanford University |
3. Business Experience | |
June, 2010 | Assistant to the Executive Vice President of Hitachi, Ltd. |
March, 2010 | Retired Deputy Director-General, Economic Affairs Bureau, MOFA |
July, 2006 | Deputy Director-General, Economic Affairs Bureau, Ministry of Foreign Affairs of Japan (MOFA) |
July, 2004 | Vice-President of Research Institute of Economy, Trade and Industry, Independent Administrative Agency |
October, 2002 | Director of International Affairs Division, Agency for Natural Resources and Energy, Ministry of Economy, Trade and Industry |
June, 2000 | Director of Recycling Promotion Division, Environment & Technology Bureau, MITI |
July, 1998 | Director of Europe/Russia/Middle East Division, International Trade Policy Bureau, MITI |
June, 1996 | Director of Petroleum Exploration and Production Division, Agency for Natural Resources and Energy, MITI |
April, 1978 | Joined Ministry of International Trade and Industry (MITI) |
Toshikazu Nishino
1. Date of Birth | January 9, 1955 |
2. Education | |
March, 1980 | Graduated from the Physics Course, the Graduate School of Science and Engineering, the Tokyo Institute of Technology |
3. Business Experience | |
April, 2010 | Senior Manager of Strategy & Project Office, Supervisory Office for Management Reforms, Hitachi, Ltd. |
April, 2009 | Board Director of Renesas Technology Corp. |
October, 2008 | Assistant to the Executive Vice President of Hitachi, Ltd. |
August, 2005 | Director, Vice President and Chief Technology Officer of Hitachi Displays, Ltd. |
April, 2005 | General Manager of Corporate Technology Office, Hitachi Group - Corporate Strategy, Hitachi Group Headquarters, Deputy General Manager of Corporate Planning & Development Office |
April, 2002 | General Manager of Central Research Laboratory |
July, 2000 | Senior Manager of Corporate Venture Capital Office |
February, 1997 | Senior Manager of Optoelectronics Department, Central Research Laboratory |
April, 1980 | Joined Hitachi, Ltd. |
Masaharu Hanyu
1. Date of Birth | February 20, 1951 |
2. Education | |
March, 1975 | Graduated from the Faculty of Science and Engineering, Waseda University |
3. Business Experience | |
July, 2007 | President and Representative Director of Hitachi-GE Nuclear Energy, Ltd. |
April, 2005 | General Manager of Nuclear Systems Division, Power Systems Group |
April, 2004 | Deputy General Manager of Industrial Systems Division, Industrial Systems Group and General Manager of Industrial Plants Division |
April, 2003 | General Manager of Industrial Plants Division, Power and Industrial Systems Group |
January, 2000 | Senior Manager of Nuclear Plant Service Department, Hitachi Engineering and Product Division, Nuclear Systems Division, Power and Industrial Systems Group |
April, 1975 | Joined Hitachi, Ltd. |
Toshiaki Higashihara
1. Date of Birth | February 16, 1955 |
2. Education | |
September, 1990 | Graduated from the graduate program in computer science, the Graduate School of Arts & Sciences, Boston University |
March, 1977 | Graduated from the Faculty of Engineering, the University of Tokushima |
3. Business Experience | |
June, 2010 | President and Representative Director of Hitachi Plant Technologies, Ltd. |
April, 2010 | Representative Executive Officer, President and Chief Executive Officer of Hitachi Plant Technologies, Ltd. |
April, 2008 | President of Hitachi Power Europe GmbH |
April, 2007 | Vice President and Executive Officer, Chief Operating Officer of Power Systems Group |
April, 2006 | Chief Operating Officer of Information & Telecommunication Systems Group |
April, 2004 | General Manager of Information & Control Systems Division, Information & Telecommunication Systems Group |
October, 2001 | General Manager of Public Utility and Energy Industry Information Systems Division, Information & Control Systems Division, System Solutions Group |
August, 2000 | Senior Manager of Public Utility and Energy Industry Information Systems Design Department, Information & Control Systems Division, Power and Industrial Systems Group |
April, 1999 | Senior Manager of Transportation Systems Design Department, Omika Industrial Systems Division, Power and Industrial Systems Group |
April, 1977 | Joined Hitachi, Ltd. |
Naoki Mitarai
1. Date of Birth | October 30, 1952 |
2. Education | |
March, 1976 | Graduated from the Faculty of Law, the University of Tokyo |
3. Business Experience | |
April, 2010 | General Manager of Corporate Administration Division, Human Capital Group |
January, 2006 | General Manager of Group Company Office, Hitachi Group Headquarters |
April, 2005 | General Manager of Group Company Office, Hitachi Group - Corporate Strategy, Hitachi Group Headquarters |
April, 2004 | Deputy General Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group |
April, 2003 | Executive Marketing Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group |
July, 2000 | General Manager of Employee Relations Department |
April, 1976 | Joined Hitachi, Ltd. |
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
3 February 2011
Tokyo, February 3, 2011 --- Hitachi, Ltd. (NYSE:HIT/TSE:6501) today announced the following changes of directors in accordance with a resolution passed by a meeting of the Board of Directors held today.
[Effective April 1, 2011]
Takashi Kawamura
New Position: Chairman of the Board
Current Position: Director, Representative Executive Officer and Chairman
Tadamichi Sakiyama
New Position: Director
Current Position: Board Director (Chair)
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
25 February 2011
Tokyo, Japan, February. 25, 2011 – Hitachi, Ltd. today announced that Hitachi Group has decided to donate NZ$ 100,000 (approx. 6 million yen) to support earthquake relief efforts in Christchurch in New Zealand.
Hitachi expresses deep condolences for victims of the earthquake and sincerely hopes for the earliest recovery of the people and areas in Christchurch affected by the disaster.
ABOUT HITACHI
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
7 March 2011
Irvine, Calif., U.S., and Tokyo, Japan, March 7, 2011 --- Western Digital Corporation (NYSE: WDC, “WD”) and Hitachi, Ltd. (NYSE:HIT / TSE:6501, “Hitachi”) announced today that they have entered into a definitive agreement to transfer Hitachi’s Hard Disk Drive (HDD) business to WD.
WD will acquire all shares of Hitachi Global Storage Technologies (“Hitachi GST”)’s holding company, Viviti Technologies Ltd. (“Viviti”) in a cash and stock transaction valued at approximately $4.3 billion. The proposed combination will result in customer-centric storage company, with significant operating scale, strong global talent and the industry’s broadest product lineup backed by a rich technology portfolio.
Under terms of the agreement, WD will acquire Hitachi GST for $3.5 billion in cash and 25 million WD common shares valued at $750 million, based on WD closing stock price of $30.01 as of March 4, 2011. Hitachi will own approximately ten percent of WD shares and hold two seats on the WD board of directors. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the quarter ending September 2011. Steve Milligan, president and chief executive officer of Hitachi GST, will join WD’s existing senior management team as president.
“The acquisition of Hitachi GST is a unique opportunity for WD to create further value for our customers, shareholders, employees, suppliers and the communities in which we operate.” said John Coyne, president and chief executive officer of WD. “We believe this step will result in several key benefits¾enhanced R&D capabilities, innovation and expansion of a rich product portfolio, comprehensive market coverage and scale that will enhance our cost structure and ability to compete in a dynamic marketplace. The skills and contributions of both workforces were key considerations in assessing this compelling opportunity. We will be relying on the proven integration capabilities of both companies to assure the ongoing satisfaction of our customers and to bring this combination to successful fruition."
"This combination will bring together two industry leaders with consistent track records of strong execution and industry outperformance,” said Steve Milligan, president and chief executive officer, Hitachi GST. “Together we can provide customers worldwide with the industry’s most compelling and diverse set of products and services, from innovative personal storage to Solid State Drives for the Enterprise.”
Hiroaki Nakanishi, representative executive officer and president of Hitachi said,
"As the former CEO of Hitachi GST, I always believed in the potential of Hitachi GST to become a larger and more agile company. This is a strategic combination of two industry leaders, both growing and profitable. It provides an opportunity for the new company to increase customer and shareholder value and expand into new markets. Additionally, it is important to us that WD shares common values with Hitachi GST to create a more global company that is well positioned to define a broader role in the evolving storage industry."
1. Outline of Company Whose Shares to Be Transferred
- Corporate name : Viviti Technologies Ltd.
- Headquarters : Singapore (*)
(*) Hitachi GST’s headquarters is located at San Jose, California, U.S.A. - Name and Title of Representative : Steve Milligan, President & CEO
- Description of Businesses : Development, manufacture and sale of HDDs
- Date Established : October 5, 2010
- Paid-in capital : US$2,113 million (As of December 31, 2010)
- Major Shareholder and Shareholdings : Hitachi 100% (As of March 7, 2011)
- Sales : US$6,003 million (¥526.8 billion) (January-December 2010)
- Relationships with Hitachi
Capital Relationships : Hitachi holds all issued shares of Viviti.
Personnel Relationships : A total of six persons from Hitachi, including two Executive Officers serve as Directors at Viviti.
Transaction Relationships : Hitachi procures HDDs from Hitachi GST. Hitachi conducts fund transactions with Hitachi GST under the Hitachi Group’s cash pooling system. - Three-Year Summary of Business Performance and Financial Condition;
Period recorded for Hitachi’s consolidated accounting purpose | FY 2008 | FY 2009 | FY 2010 | |
Shipment Period | Jan.2008 to Dec.2008 | Jan.2009 to Dec.2009 | Jan.2010 to Dec.2010 | |
Revenue | Billions of yen | 573.3 | 451.7 | 526.8 |
Millions of U.S. dollars | 5,574 | 4,821 | 6,003 | |
Operating income | Billions of yen | 21.4 | 9.2 | 57.2 |
Millions of U.S. dollars | 208 | 106 | 645 | |
Total shareholder’s equity | Millions of U.S. dollars | 545 | 596 | 1,257 |
Total assets | Millions of U.S. dollars | 3,092 | 3,067 | 3,656 |
2. Outline of Company Who Acquires the Transferred Shares
- Corporate name : Western Digital Corporation
- Headquarters : Irvine, California, U.S.A.
- Name and Title of Representative : John F. Coyne, President & CEO
- Description of Businesses : Development, manufacture and sale of HDDs
- Date Established : April 23, 1970
- Paid-in capital : US$1,042 million (As of December 31, 2010)
- Major Shareholders and Shareholdings : Fidelity 6.1%
Vanguard Group 4.9%
(As of December 31, 2010) - Total shareholder’s equity : US$5,159 million (As of December 31, 2010)
- Total assets : US$7,843 million (As of December 31, 2010)
- Sales : US$9,850 million (July 2009-June 2010)
- Relationships with Hitachi
Capital Relationships : Not applicable
Personnel Relationships : Not applicable
Transaction Relationships : Hitachi procures HDDs from WD.
3. Status of Shareholdings Before and After the Transfer
Shareholding ratio before transfer: WD 0%, Hitachi 100%
Shareholding ratio after transfer : WD 100%, Hitachi 0%
4. Transfer price
US$3.5 billion and 25 million shares of WD stock
5. Schedule for share transfer
Subject to customary closing conditions, including regulatory approvals; anticipated close in the quarter ending September 2011.
6. Effect of this transaction on the business results of Hitachi
There will be no impact on earnings in the fiscal year ending March 31, 2011.
At present, the impact on earnings in the fiscal year ending March 31, 2012 is uncertain. We will announce the impact when it becomes clear.
About Western Digital Corporation
WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company designs and produces reliable, high-performance hard drives and solid state drives that keep users' data accessible and secure from loss. Its advanced technologies are configured into applications for client and enterprise computing, embedded systems and consumer electronics, as well as its own consumer storage and media products.
WD was founded in 1970. The company's storage products are marketed to leading OEMs, systems manufacturers, selected resellers and retailers under the Western Digital® and WD® brand names. Visit the Investor section of the company's website (www.westerndigital.com) to access a variety of financial and investor information.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Western Digital Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include statements concerning the immediate accretion and other benefits expected from the transaction, the expected timing of the completion of the transaction and management’s anticipated plans and strategies for the combined company. These forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including: delays in or failure to obtain any required regulatory approvals with respect to the transaction; failure to consummate or delay in consummating the transaction for other reasons; the possibility that the expected benefits of the transaction may not materialize as expected; failure to successfully integrate the products, R&D capabilities, infrastructure and employees of WD and Hitachi GST; and other risks and uncertainties detailed in WD’s filings with the SEC, including WD’s recent Form 10-Q filed with the SEC on Jan. 28, 2011 for the quarter ended Dec. 31, 2010, to which your attention is directed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and WD undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. In addition, this press release contains information about a non-GAAP financial measure. Please note that this non-GAAP financial measure excludes acquisition-related expenses, restructuring charges and amortization of intangibles that we expect to incur in connection with the transaction and following the closing of the transaction. Because these items will not be known to us until on or after the closing of the transaction, we are unable to provide information about the most directly comparable GAAP financial measure. The impact of these excluded items will cause the non-GAAP financial measure to differ materially from the comparable GAAP financial measure.
Hitachi, Ltd. Cautionary Statement
Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends may identify “forward-looking statements.” Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the “forward-looking statements” and from historical trends. Certain “forward-looking statements” are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on “forward-looking statements,” as such statements speak only as of the date of this document.
Factors that could cause actual results to differ materially from those projected or implied in any “forward-looking statement” and from historical trends include, but are not limited to:
- economic conditions, including consumer spending and plant and equipment investments in Hitachi’s major markets, particularly Japan, Asia, the United States and Europe, as well as levels of demand in the major industrial sectors which Hitachi serves, including, without limitation, the information, electronics, automotive, construction and financial sectors;
- exchange rate fluctuations for the yen and other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;
- uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing;
- uncertainty as to general market price levels for equity securities in Japan, declines in which may require Hitachi to write down equity securities that it holds;
- the potential for significant losses on Hitachi’s investments in equity method affiliates;
- increased commoditization of information technology products and digital media-related products and intensifying price competition for such products, particularly in the Components & Devices and the Digital Media & Consumer Products segments;
- uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technology on a timely and cost-effective basis and to achieve market acceptance for such products;
- rapid technological innovation;
- the possibility of cost fluctuations during the lifetime of or cancellation of long-term contracts, for which Hitachi uses the percentage-of-completion method to recognize revenue from sales;
- fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such as copper, steel, aluminum and synthetic resins and shortages of materials, parts and components;
- fluctuations in product demand and industry capacity;
- uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand, exchange rates and/or price of raw materials and shortages of materials, parts and components;
- uncertainty as to Hitachi’s ability to achieve the anticipated benefits of its strategy to strengthen its Social Innovation Business;
- uncertainty as to the success of restructuring efforts to improve management efficiency by divesting or otherwise exiting underperforming businesses and to strengthen competitiveness and other cost reduction measures;
- general socio-economic and political conditions and the regulatory and trade environment of countries where Hitachi conducts business, particularly Japan, Asia, the United States and Europe, including, without limitation, direct or indirect restrictions by other nations on imports, or differences in commercial and business customs including, without limitation, contract terms and conditions and labor relations;
- uncertainty as to the success of alliances upon which Hitachi depends, some of which Hitachi may not control, with other corporations in the design and development of certain key products;
- uncertainty as to Hitachi’s access to, or ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;
- uncertainty as to the outcome of litigation, regulatory investigations and other legal proceedings of which the Company, its subsidiaries or its equity method affiliates have become or may become parties;
- the possibility of incurring expenses resulting from any defects in products or services of Hitachi;
- the possibility of disruption of Hitachi’s operations in Japan by earthquakes or other natural disasters;
- uncertainty as to Hitachi’s ability to maintain the integrity of its information systems, as well as Hitachi’s ability to protect its confidential information and that of its customers;
- uncertainty as to the accuracy of key assumptions Hitachi uses to valuate its significant employee benefit related costs; and
- uncertainty as to Hitachi’s ability to attract and retain skilled personnel.
The factors listed above are not all-inclusive and are in addition to other factors contained in Hitachi’s periodic filings with the U.S. Securities and Exchange Commission and in other materials published by Hitachi.
Western Digital Corporation’s Contacts
U.S.
Steve Shattuck
Western Digital Corporation
949-672-7817
steve.shattuck@wdc.com
Bob Blair
Western Digital Corporation
949-672-7834
robert.blair@wdc.com
Hitachi Global Storage Technologies’ Contact
U.S.
Jim Pascoe
Hitachi Global Storage Technologies
408-717-7924
james.pascoe@hitachigst.com
Hitachi, Ltd.’s Contacts
Japan
Yukiaki Ina
Hitachi, Ltd.
+81-3-5208-9323
yukiaki.ina.nt@hitachi.com
Hajime Kito
Hitachi, Ltd.
+81-3-5208-9323
hajime.kito.qy@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
14 March 2011
Tokyo, Japan, March 14, 2011 – Hitachi, Ltd.(NYSE:HIT / TSE:6501) today announced the decision of the Hitachi Group to provide support in the amount of 300 million yen to aid the victims of the earthquake off the Pacific Coast of Tohoku, which struck on March 11, and to assist in recovery efforts in the affected regions.
Hitachi expresses deep condolences for victims of the earthquake and sincerely hopes for the fastest possible recovery in all regions involved.
About Hitachi, Ltd.
Hitachi, Ltd. (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
14 March 2011
Tokyo, Japan, March 14, 2011 – Hitachi, Ltd.(NYSE:HIT / TSE:6501) today announced the following information regarding the effects on the Hitachi Group from the earthquake off the Pacific Coast of Tohoku, which struck Northeastern Japan on March 11, and regarding the response of Hitachi.
Status of Production Bases
Hitachi’s buildings and production facilities have suffered damages, mainly at production bases in Ibaraki prefecture. The company will make the safety of its employees the first priority, and will continue to gather details on the status of damages to production facilities, while closely monitoring conditions of utilities such as the availability of electric power.
Main production bases where damages to buildings and production facilities have been confirmed
- Hitachi, Ltd. Power Systems Company, Hitachi Works (Hitachi-shi, Ibaraki Pref.)
- Hitachi, Ltd. Urban Planning and Development Systems Company, Mito Works (Hitachinaka-shi, Ibaraki Pref.)
- Hitachi, Ltd. Information & Control Systems Company, Omika Works (Hitachi-shi, Ibaraki Pref.)
- Hitachi Appliances, Inc., Taga Office (Hitachi-Shi, Ibaraki Pref.)
- Hitachi Automotive Systems, Ltd., Sawa Works (Hitachinaka-shi, Ibaraki Pref.)
- Hitachi Automotive Systems, Ltd., Fukushima Works (Date-gun, Fukushima Pref.)
Status of Employees
Hitachi will continue confirming the status of Hitachi Group employees and their families who have been affected by the disaster.
Established an Emergency Headquarters for Response to Large-scale Earthquake
On March 11, the date on which the earthquake took place, Hitachi established an Emergency Headquarters for Response to Large-scale Earthquake at the Head Office in Chiyoda-Ku, Tokyo, led by President Nakanishi. This Emergency Headquarters will manage activities aimed at providing support to affected regions and customers; gathering information on losses and damages suffered by employees and their families, and by Hitachi’s various bases of operations; and investigating and implementing appropriate countermeasures.
About Hitachi, Ltd.
Hitachi, Ltd. (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
17 March 2011
Tokyo, March 17, 2011 --- Hitachi, Ltd. (NYSE: HIT / TSE: 6501, “Hitachi”) today announced that the Board of Directors decided to revise the year-end dividend forecast for the fiscal year ending March 31, 2011, as follows. The record date for this dividend is March 31, 2011.
1. Reasons for Revising Year-End Dividend Forecast
Hitachi is gathering information, investigating and implementing appropriate measures to counter the impact from the earthquake that struck off the Pacific coast of northeastern Japan on March 11. For this reason, Hitachi plans to decide and announce a revised year-end dividend forecast for the fiscal year ending March 31, 2011 after completing an ongoing investigation into the impact on Hitachi’s earnings results. The previous forecast announced on November 2, 2010 was 3 yen per share.
2. Details of Revision
Annual Dividend (Yen) | |||
Record date | Interim dividend | Year-end dividend | Annual dividend |
Previous forecast | 3 yen per share | 8 yen per share | |
Revised forecast | To be decided | To be decided | |
Actual | 5 yen per share(1) | ||
Dividend for fiscal year ended March 31, 2010 | 0 yen per share(1) | 0 yen per share | 0 yen per share |
(1) The amount of the interim dividend consists of ordinary dividend of 3 yen per
share and commemorative dividend of 2 yen per share.
Cautionary Statement
Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends may identify “forward-looking statements.” Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the “forward-looking statements” and from historical trends. Certain “forward-looking statements” are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on “forward-looking statements,” as such statements speak only as of the date of this document.
Factors that could cause actual results to differ materially from those projected or implied in any “forward-looking statement” and from historical trends include, but are not limited to:
- economic conditions, including consumer spending and plant and equipment investments in Hitachi’s major markets, particularly Japan, Asia, the United States and Europe, as well as levels of demand in the major industrial sectors which Hitachi serves, including, without limitation, the information, electronics, automotive, construction and financial sectors;
- exchange rate fluctuations for the yen and other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;
- uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing;
- uncertainty as to general market price levels for equity securities in Japan, declines in which may require Hitachi to write down equity securities that it holds;
- the potential for significant losses on Hitachi’s investments in equity method affiliates;
- increased commoditization of information technology products and digital media-related products and intensifying price competition for such products, particularly in the Components & Devices and the Digital Media & Consumer Products segments;
- uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technology on a timely and cost-effective basis and to achieve market acceptance for such products;
- rapid technological innovation;
- the possibility of cost fluctuations during the lifetime of or cancellation of long-term contracts, for which Hitachi uses the percentage-of-completion method to recognize revenue from sales;
- fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such as copper, steel, aluminum and synthetic resins and shortages of materials, parts and components;
- fluctuations in product demand and industry capacity;
- uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand, exchange rates and/or price of raw materials and shortages of materials, parts and components;
- uncertainty as to Hitachi’s ability to achieve the anticipated benefits of its strategy to strengthen its Social Innovation Business;
- uncertainty as to the success of restructuring efforts to improve management efficiency by divesting or otherwise exiting underperforming businesses and to strengthen competitiveness and other cost reduction measures;
- general socio-economic and political conditions and the regulatory and trade environment of countries where Hitachi conducts business, particularly Japan, Asia, the United States and Europe, including, without limitation, direct or indirect restrictions by other nations on imports, or differences in commercial and business customs including, without limitation, contract terms and conditions and labor relations;
- uncertainty as to the success of alliances upon which Hitachi depends, some of which Hitachi may not control, with other corporations in the design and development of certain key products;
- uncertainty as to Hitachi’s access to, or ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;
- uncertainty as to the outcome of litigation, regulatory investigations and other legal proceedings of which the Company, its subsidiaries or its equity method affiliates have become or may become parties;
- the possibility of incurring expenses resulting from any defects in products or services of Hitachi;
- the possibility of disruption of Hitachi’s operations in Japan by earthquakes or other natural disasters;
- uncertainty as to Hitachi’s ability to maintain the integrity of its information systems, as well as Hitachi’s ability to protect its confidential information and that of its customers;
- uncertainty as to the accuracy of key assumptions Hitachi uses to valuate its significant employee benefit related costs; and
- uncertainty as to Hitachi’s ability to attract and retain skilled personnel.
The factors listed above are not all-inclusive and are in addition to other factors contained in Hitachi’s periodic filings with the U.S. Securities and Exchange Commission and in other materials published by Hitachi.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
17 March 2011
Tokyo, Japan, March 17, 2011 – Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced the following information regarding the effects on the Hitachi Group of the Earthquake off the Pacific Coast of Tohoku, which struck Northeastern Japan on March 11, and regarding the responses of Hitachi, as of March 17.
Status of Production Bases
Damage to buildings and facilities has been confirmed at Hitachi’s main production bases in Ibaraki Prefecture, including: cracks in walls; fallen ceilings, roofs, and walls; broken glasses; and fallen cabinets inside of buildings. Electric power supply is gradually being restored, however, and inspections of production facilities are currently underway. At present, there are no clear forecasts for the recovery of utilities such as water and gas, but Hitachi will continue to make the safety of its employees the first priority, and will work toward resuming operations as quickly as possible, while closely monitoring the recovery of essential infrastructure.
At Hitachi Appliances, Inc.’s Tochigi Works (Tochigi-shi, Tochigi Prefecture), which produces room air conditioners and refrigerators, production of room air conditioners and others resumed today (March 17), with the exception of tentative interruption due to the planned suspension of electric power supply. Regular operations also resumed today at Hitachi’s main production bases in Kanagawa Prefecture, which produce information and telecommunications system related products, and full production of dry cell batteries has resumed at Hitachi Maxell Ltd.’s Osaka Works (Ibaraki-shi, Osaka).
Main production bases where damages to buildings and production facilities have been confirmed
- Hitachi, Ltd. Power Systems Company, Hitachi Works (Hitachi-shi, Ibaraki Pref.)
- Hitachi, Ltd. Urban Planning and Development Systems Company, Mito Works (Hitachinaka-shi, Ibaraki Pref.)
- Hitachi, Ltd. Information & Control Systems Company, Omika Works (Hitachi-shi, Ibaraki Pref.)
- Hitachi Appliances, Inc., Taga Office (Hitachi-shi, Ibaraki Pref.)
- Hitachi Automotive Systems, Ltd., Sawa Works (Hitachinaka-shi, Ibaraki Pref.)
- Hitachi Automotive Systems, Ltd., Fukushima Works (Date-gun, Fukushima Pref.)
- Hitachi Displays, Ltd., Mobara Works (Mobara-shi, Chiba Pref.)
Status of Employees
Hitachi will continue confirming the status of Hitachi Group employees and their families who have been affected by the disaster.
Established Emergency Headquarters for Response to the Tohoku Earthquake
On March 11, the date on which the earthquake took place, a Hitachi Group Emergency Headquarters for Response to the Tohoku Earthquake, led by President Nakanishi, was established at the Hitachi, Ltd. Head Office in Chiyoda-Ku, Tokyo. This Emergency Headquarters will manage activities aimed at providing support to affected regions and customers; gathering information on losses and damages suffered by employees and their families, and by Hitachi’s various bases of operations; and investigating and implementing appropriate countermeasures.
Assistance at the Fukushima No. 1 nuclear power station of TEPCO
A 24-hour emergency response center has been established at the Hitachi, Ltd. Head Office to assist in repair and recovery operations at the Fukushima No. 1 nuclear power station. Engineers have been dispatched from Hitachi to work on joint teams formed in collaboration with Tokyo Electric Power Co. and the Japanese government. Hitachi is also assisting in the procurement of materials required for on-site operations, and is providing support for work efforts. Hitachi will continue to offer its full cooperation and rapid response to requests from related agencies.
About Hitachi, Ltd.
Hitachi, Ltd. (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Contacts
Japan
Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.
Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987
masayuki.takeuchi@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.